The cloud services brokerage industry is expected to grow at a compound annual growth rate (CAGR) of approximately 18.0%, increasing from USD 11.4 billion in 2024 to USD 26.2 billion by 2029. This expansion is anticipated to be driven by the rising adoption of a wide range of cloud-based services.
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By cloud service model, SaaS to hold largest market size during the forecast period.
SaaS presents software applications through the internet on a usage-based model and eliminates the overhead of supporting the physical IT infrastructure, let alone managing local installations and updates. SaaS models are popular due to the lower IT expenses and financial operation costs and because software services can be customized to various demands. Critical drivers for the SaaS model are cost benefits, ease of deployment, and suitability for today’s more informal, work-from-home culture, where easy access to tools exists over the internet. CRM and ERP SaaS applications enable organizations to adapt to changes in forces of demand and control and increase operations efficiencies. The growing digital transformation trend and the convenience of automatic updates further solidify SaaS as a critical component of the CSB market. The cloud service broker provides added value by managing, integrating, or customizing these solutions, which places SaaS as the dominant model. This allows organizations to focus on their core business rather than the mysterious complexities in the many different areas of software management.
By vertical, retail and consumer goods will grow at the highest CAGR during the forecast period.
CSB solutions enable retailers to consolidate and manage several business applications such as supply chain, customer relation management, enterprise resources planning, enhancing inventory flow, increasing operational effectiveness, and coordinating several retailing functions. The shift towards e-commerce, personalized marketing, and omnichannel strategies further fuels demand for CSB solutions, as retailers need seamless integration of cloud services to meet evolving consumer expectations. Moreover, by utilizing such tools as cloud-based analytics and personalization applications, CSB solutions also improve customer experiences, helping retailers understand their customers’ behaviors by analyzing consumer data and providing them with individualized recommendations. This agility enables them to respond quickly to changes in the market, thus remaining competitive through on-demand resource allocation plus handling multiple clouds from one screen. CSB solutions foster change and development, increasing operational effectiveness and enhancing client interactions. This is why the retail and consumer goods industry is currently leading in its CSB implementation.
By organization size, small enterprises will grow at the highest CAGR during the forecast period.
In the cloud services brokerage (CSB) market, small enterprises and startups are anticipated to witness the highest compound annual growth rate (CAGR) during the forecast period. This growth is primarily driven by their need to access advanced technologies and infrastructure that would otherwise be inaccessible due to budget constraints. Cloud solutions provide these businesses with an opportunity to secure affordable and easily scalable resources, which could be insufficient to initially offer yet are highly adequate for rapidly developing a business on a large scale with minimal investments needed for infrastructure. The ability to reduce IT overhead, accelerate business growth, and support innovation and agility are key drivers. Cloud services are in demand more as business awareness expands on the worth of cloud computing for small enterprises, speedy IT management, and the ability to deploy new products or services. Cloud service brokers play a pivotal role by providing tailored, cost-effective solutions that help small businesses optimize their cloud usage and navigate the complexities of cloud management, contributing to substantial growth in this market segment.
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Unique Features in the Cloud Services Brokerage Market
One of the standout features of the cloud services brokerage (CSB) market is the ability to manage multiple cloud environments seamlessly. CSB providers offer tools that enable businesses to integrate and oversee services from different cloud providers, including public, private, and hybrid clouds.
Cloud service brokers act as intermediaries, aggregating services from various cloud providers into a single, cohesive platform. This enables businesses to choose and customize services to fit their specific requirements without needing to negotiate separately with multiple providers.
A key feature of CSB platforms is the ability to provide detailed insights into cloud spending, enabling cost optimization. These platforms help businesses track and manage their usage of cloud resources, providing recommendations to optimize costs, prevent overuse, and manage billing across multiple cloud vendors.
Security and regulatory compliance are significant concerns for businesses using cloud services. CSB platforms often include integrated security and compliance management tools, ensuring that the services meet the required industry standards and regulations.
Cloud service brokers simplify the procurement process by offering a marketplace or catalog of cloud services from various providers. This eases the task of comparing, purchasing, and deploying services. They also offer integration tools to ensure that these cloud services work together seamlessly, reducing the complexity of managing different platforms.
Major Highlights of the Cloud Services Brokerage Market
The cloud services brokerage (CSB) market is experiencing significant growth, with a projected compound annual growth rate (CAGR) of around 18% from 2024 to 2029. This rapid expansion is driven by the increasing adoption of cloud services across various industries.
As more organizations adopt multi-cloud strategies to avoid dependence on a single provider, the role of cloud brokers in managing these complex environments is becoming crucial.
One of the primary drivers of the CSB market is the increasing emphasis on cost optimization. Cloud service brokers help businesses manage their cloud spending more efficiently by providing insights into usage patterns and recommending strategies to reduce unnecessary costs.
Security and compliance concerns are critical in cloud adoption, especially for industries dealing with sensitive data. The CSB market is witnessing heightened demand due to its ability to offer security solutions and ensure compliance with industry regulations.
Cloud service brokers simplify the often complex process of procuring, integrating, and managing cloud services. They act as intermediaries between businesses and cloud providers, streamlining the selection of cloud solutions and providing a centralized platform for managing multiple vendors.
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Top Companies in the Cloud Services Brokerage Market
Accenture
Accenture—a leading global professional service company, through consultative, technology, and outsourcing services—maintains a strategic and innovative posture within the dynamics of the international world. The company also leverages its deep professional acumen and strategic relationships with top-notch global vendors to deliver innovative solutions to end-user customers. Meanwhile, the organization substantially invests in research and development associated with technological and digital transformations, being ready to realize long-term sustainability. Accenture is a global company serving clients in various industries with over 500,000 employees worldwide and footprints across North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Note in the CSB Market – Within the cloud services brokerage market, Accenture provides solutions for organizations to help them effectively manage their cloud environments. Accenture Cloud Platform allows for effective workload management across on-premises private and public clouds and includes flexible cloud integration options, unified billing analytics, and a centralized management control framework. It also supports leading global providers, including Amazon Web Services, Microsoft Azure, and Cisco Intercloud, ensuring a vendor-neutral approach to effectively managing hybrid cloud environments. This application enables critical capabilities such as management services that are offered as a managed service model of on-premises private cloud integration and automated blueprinting of applications and platforms, all designed to promote business agility, reduce costs, and drive innovation at a time that many enterprises are grappling with the complexities of adopting cloud technologies.
IBM
IBM, headquartered in Armonk, New York, is a global technology and consulting leader known for its innovations in computing and AI, mainly through its Watson platform. IBM offers products and services, such as hardware, software, and cloud-based solutions, and it also supports digital transformation by concentrating on hybrid cloud and AI. The key to this strategy was the 2019 acquisition of Red Hat, which emphasized IBM’s commitment to IT modernization. IBM invests in advanced research of quantum computing for next-generation technology.
IBM Cloud Brokerage provides a unified dashboard for planning, purchasing, and managing cloud services. It offers the advantage of cost and compliance management, visibility into the IT environment, and support for integrating different cloud services into enterprise activities; this is one solution, amongst many, for businesses to remain advanced in cloud strategies, to control performance mechanically, and to keep pace with standards for compliance. At a growing pace, due to the dynamism of technology and varying market conditions, IBM services have taken global into the Americas, Europe, Asia Pacific, the Middle East, and Africa to stimulate innovation.
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